OF THE INVESTMENTS amp SECURITIES TRIBUNAL JANMARCH 2017 1 ST CAPITAL MARKET COMMITTE MEETING 1 IST 1 ST QUARTER 2017 REPORT Our Vision To be a world class capital market tribunal that is fair and transparent dispensing justice without fear or favour ID: 780832
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UPDATE OF THE ACTIVITIES OF THE INVESTMENTS & SECURITIES TRIBUNALJAN-MARCH, 2017 1ST CAPITAL MARKET COMMITTE MEETING
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Slide2IST 1ST, QUARTER, 2017 REPORTOur Vision To be a world class capital market tribunal that is fair and transparent, dispensing justice without fear or favour. Our Mission The efficient resolution of capital market disputes with fairness, flexibility and transparency.
Our Strategy
The Tribunal combines the rule of law with the responsiveness, flexibility, speed and cost-effectiveness associated with specialized courts and alternative dispute resolution systems. This is supported by our drive to make justice accessible for investors across Nigeria. Our Core valuesFairnessIntegrityEfficiencyProfessionalism Our StrengthSpecialised knowledge of securities law & capital market operationsVaried technical & professional skill of members;Expertise of members and staff of the 1ST;Independence, flexibility and efficiency in settling disputes; and Unique case management approach.
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Slide3SUMMARY OF ACTIVITIES OF THE TRIBUNALJANUARY – MARCH, 2017.The summary is as follows: No. of Cases Filed
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5 No of Cases attended to at the ADR Centre - 4Publication of Volumes VIII, IX & X NISLR in progressProposed Public Enlightenment Workshop in 3 selected geo-political Zones (North, East & West).Participation in the review of ISA 20073
Slide4Adjudicatory & ADR Activities.Adjudicatory activities of the Tribunal have been put on hold since November, 2015;Termination of the appointment of the Hon Chairman 1st Quarter, 2016;Appointment of the Chief Registrar as the Acting Hon Chairman;
Revitalisation of the IST ADR Centre to commence resolution of dispute;
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Slide5Matters at the ADR Centre. 4 Matters transferred to the ADR Centre;3 Matters fully resolved;1 matter outstanding
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Slide6Participation in Capital Market Committee Meeting.Consistent participation in the Capital Market Committee Meetings;Shared ideas on policies that can stimulate, deepen and strengthen the capital market;
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Slide7FUNDING OF THE TRIBUNAL.Held meetings with the CEOs of SEC, NSE and CSCS on modalities of improved funding of the IST;Gradual release of Capital Market Funds by same agencies;Inconsistent release of budgetary allocation due to technical recession hampers the performance of other key functions.
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Slide8CHALLENGESContinuous delay Constitution of the Tribunal hinders the performance of adjudicatory function;Inability to execute key activities such as Public Enlightenment and Investors Education. 8
Slide9UPDATE OF ACTIVITIES OF THE IST JAN - MARCH, 2017.S/NOPARTICULARSNO1NO OF CASES BROUGHT FORWARD FROM 2015322
NO OF CASES FILED
JAN – MARCH, 2017
53TOTAL NUMBER OF CASES PENDING BEFORE THE TRIBUNAL514NO OF CASES AT ADR CENTRE45NO OF CASES RESOLVED AT ADR.36NO OF CASES PENDING BEFORE ADR CENTRE 659